Here, we propose a new approach for bone-related cancer treatments with the aid of magnetic nanoparticles (MNP) encapsulated in bioactive glass nanoparticles (BG). M were initially synthesized using co-precipitation method and then coated using BGPs through sol-gel synthesis process. Results confirmed the formation of a crystalline and pure MNP structure. MNP-BG nanoparticles were found to be bioactive by forming a hydroxyapatite layer on their surface. The hyperthermia application of MNP-BG system was also studied. It was found that the particles reach a temperature of 42°C in an alternating magnetic field. Doxorubicine (DOX), a widely used anticancer drug, was used for loading in MNP-BGP. To enhance loading efficiency, BGP was surface modified to creat NH 2 groups on the surface. The encapsulation and release of DOX was studied over 48 h. In vitro tests were performed using human osteosarcoma cell line (MG63). The results demonstrated the non-cytotoxic nature of MNP and MNP-BGP tested at various concentrations. Also, DOX release from MNP-BG provoked decreased MG63 viability. Overall, it is suggested that the particles have a great multifunctional application in magnetic hyperthermia, local drug release and bone regeneration. Keyword: Bioactive glass, Magnetic Fe 3 O 4 nanoparticles, Hyperthermia, Osteosarcoma, Doxorubicin.